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News and Announcements

Horizon State to Revolutionise Voting System

  • Published October 17, 2017 12:00AM UTC
  • Publisher Wholesale Investor
  • Categories Company Updates

KEY TAKEAWAYS:

  • Horizon State is banking on the use of the blockchain technology to provide a ballot box that could not be hacked, and which could revolutionise the voting system.
  • The distributed ledger technology is cost effective and will reduce the cost of conducting polls or the voting system from $1 to $7 per eligible voter.

Horizon State eyes to revolutionise the voting system through the use of distributed ledger technology also known as blockchain technology that promises to deliver a ballot box that could not be hacked. The digital ballot box is so secured that it is capable of protecting the identities of voters and lead to results that could not be altered.

The technology is expected to be adopted not only in the political world but also by multinational enterprises, non-government organisations and communities operating in developing countries.

“Sharing all of the technological benefits that makes Bitcoin possible – being verifiable transactions of value without a bank – we are using blockchain transactions as votes, while still maintaining the anonymity of the voter. The result is a system that is quicker to orchestrate than traditional voting methods, more convenient for voters which reduces apathy, and far cheaper than centralized, physical voting processes,” Horizon State Chief Product Officer Jamie Skella said.

The blockchain system is not only beyond hacking, but it is also more cost-effective. While the traditional voting system for something like a marriage equality postal vote costs taxpayers AUS$122, Horizon State’s system will only cost AUS$2 million.

Skella started blockchain with MiVote, an Australian democratic movement that leveraged the voting system for those who want to engage in the decision-making process immediately and frequently. It has been used for MiVote since February and is now being marketed to NGOs, national governments and multination enterprises for a variety of applications including electing officials.

The blockchain technology allows the use of a secure online platform that provides election results with transparency and security. This technology makes use of a network of computers to provide an audit trail for certain database.

Horizon State recently formed a strategic partnership with investment and advisory firm KrowdMentor. The latter is known for empowering blockchain startups, funds and investors.

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